While we have faced another week of massive selling pressure for the metals, all four of the metals are stellar performers when we survey the alternatives.
For the week, gold is down 2.7% to $1,909, silver is down 5.9% to $23.88, platinum is down 7.4% to $929, and palladium is down 7.9% to $2,290. For the one year, gold is up 7.4%, silver is down 9.2%, platinum is down 25%, and palladium is down 23%.
Today I felt it would be in order to look at things through a “year-to-date” (YTD) lens to view the relative performance of the metals to other asset classes.
YTD, gold is up 6%, silver is up 4%, platinum is down 3%, and palladium is up 25%. While nearly everything has been going down lately, this helps put things in a different perspective.
For example, YTD Bitcoin is down 19%, DJIA is down 9%, NASDAQ is down 21%, S&P 500 is down 13%, and the Vanguard Long Term Bond Index ETF is down 18%.
So far this year, gold has performed 25% better than Bitcoin, 15% better than the DJIA, 27% better than the NASDAQ, 19% better than the S&P500 Index, and 18% better than long term bonds.